KIT digital expects $60m Q1 revenues

KIT digital, a video technology and services company, has reported preliminary results for the first quarter ended March 31, 2012.

Based on preliminary unaudited information, KIT digital management expects to report revenue for the first quarter of 2012 of approximately $59 million, and a non-GAAP operating loss in the first quarter of 2012 of approximately $8 million.

Contributing to the lower than expected financial results, the company cited longer than anticipated sales cycles for a number of larger opportunities, increased personnel costs associated with deployments in future quarters, payments of assumed liabilities arising from the acquisition of Sezmi, and higher than expected legal and advisory fees, among other factors.

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